Fidson Healthcare’s Strong Performance and Expansion Reinforce Leadership in Pharma Sector

Fidson Healthcare Plc has once again demonstrated its unwavering commitment to the pharmaceutical sector, announcing a profit of N4.187 billion for the financial year ending December 31, 2022. This impressive financial achievement was warmly received by shareholders, who will benefit from a dividend payout of 55 kobo per share, marking a 10 percent increase from the previous year’s dividend of 50 kobo per share. The unanimous approval of this dividend payout was among the highlights of the company’s 24th Annual General Meeting, which took place in Lagos.

Fidson Healthcare Plc, a frontrunner in the pharmaceutical industry, is aggressively expanding its pharmaceutical production capacity to meet the growing demand for critical therapeutic area drugs in Nigeria, as well as in other West African countries.

The company’s financial report for the year ending December 31, 2022, further reflects its robust performance, with a reported turnover of N40.634 billion. This represents a substantial 31.7 percent increase compared to the N30.861 billion revenue recorded in the previous year.

Dr. Fidelis Ayebae, the Founder and Managing Director of Fidson Healthcare Plc, attributed the remarkable success of the company to the unwavering support, trust, and loyalty of its stakeholders and customers. He emphasized the crucial role played by their customers’ trust and patronage in driving the company’s commitment to excellence, even in a highly competitive market.

Dr. Ayebae stated, “Since our inception, our business’s success has hinged on the trust and consistent patronage of our brands by our customers, especially as an indigenous pharmaceutical company operating in a fiercely competitive environment. This enduring trust and support have been the driving force behind our unyielding commitment to delivering excellence in all aspects of our operations. This commitment has translated into significant returns, facilitated our business expansion, and firmly established us as leaders within the industry.”

He further noted, “Despite the numerous challenges presented by the business landscape, we remain committed to reinforcing our internal controls and investing in the next generation of leaders. This ensures the continuation of our excellent performance and the perpetuation of our corporate culture, which not only guarantees the company’s profitability but also adds value to the lives of all stakeholders. With our rapid expansion, strategic partnerships, and focus on empowering our workforce, we believe that this initiative will provide the stability needed to propel the company into its next phase of growth, relevance, and dominance.”

During the event, shareholders also had the opportunity to re-elect three non-executive directors: Dr. Vincent Ahonkhai, Mrs. Aishatu P. Sadauki, and Mr. Emmanuel E. Imoagene. Their re-election, which was unanimously approved, signifies the confidence of shareholders in their expertise and contributions to the quality of board deliberations and the achievement of the company’s strategic objectives.

Mr. Segun Adebanji (FCA), the Chairman of the Board, praised the professionalism and accomplishments of these board members, highlighting their valuable contributions to the company’s continued success.

Shareholders expressed their satisfaction with Fidson Healthcare’s performance, particularly in terms of consistent dividend payments. Chief Timothy Adesiyan praised the company’s resilience in maintaining a dividend payout of 55 kobo per share, even amid challenging business conditions in the country. He noted that while some industry peers faced difficulties or considered delisting, Fidson continued to deliver significant value to its shareholders.

Barrister Adetutu Siyonbola also commended the company’s management for upholding transparency in its operations and for diligently adhering to the annual general meeting schedule, demonstrating a strong commitment to its shareholders.

Fidson Healthcare Plc’s remarkable financial performance, expansion efforts, and shareholder-centric approach reaffirm its leadership position in the pharmaceutical sector and set a positive trajectory for future growth and success.